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All Forum Posts by: Account Closed

Account Closed has started 91 posts and replied 511 times.

Post: Rental Applicant Refuses to Provide Credit Bureau with his SS#

Account ClosedPosted
  • Homeowner
  • Signal Hill, CA
  • Posts 521
  • Votes 70

thanks all, not soliciting the SSN directly is working great; i have yet to see if these services like acutraq and experianconnect will furnish the SSN in their furnishing of the applicants' credit reports to me and meanwhile i'm looking into getting my own standalone credit checking as a PM although for now for my employer's clientelle i use tht firm's for those clientelle (i'd never use the firm's credit check software for my own applicants!)

Post: What are the options to help someone in trouble?

Account ClosedPosted
  • Homeowner
  • Signal Hill, CA
  • Posts 521
  • Votes 70

if its commercial prop, why are they at a loss not profit?!

would advertise it for lease with enuf rent & deposit required to get them out of tax jam.

if tax is loooong overdue, then one has to wonder even if they are bailed out, its likely to be allowed to go to default all over again, so yea, in that case, quick sell it and get out of it since its supposed to be for profit but obviously its a loss in their scenario.

Post: Finding sponsoring broker for part time agent

Account ClosedPosted
  • Homeowner
  • Signal Hill, CA
  • Posts 521
  • Votes 70

understanding there are dues to most brokers (board, desk, etc) that add up whether u put little or no time into actually closing deals, whether full or part. ditto for MLS account

salespersoning is more about how u spend ur time than how much time u spend doing it.

congrats

Post: E-Appraisal.com

Account ClosedPosted
  • Homeowner
  • Signal Hill, CA
  • Posts 521
  • Votes 70

i've found zillow seems to factor in most recent sale price (which can be way off if house hasn't resold in past few years!)

whereas eappraisal.com doesnt and is more based on comps alone.

yea, no hyphen.

Post: Tenant thinks his lease was void when we bought the property

Account ClosedPosted
  • Homeowner
  • Signal Hill, CA
  • Posts 521
  • Votes 70

Unless HE wrote the lease (not the seller), it's already problematic that the lease as written gives unilateral rights to break lease on sale to new owners, but not to tenants.

To me that's a can of worms if it lands in landlord/tenant court proceedings cuz it can be argued for instance that while the seller was showing the house for sale, quiet and private use were violated with potential buyers in and out often, yet the lease was written up to keep tenant locked in that uncomfortable situation of house/unit being shown, sold, new owners can end lease, but tenant can't do anything about it.

Surprised all the fuss over what, giving 30 days notice in advance of lease term? sounds like tenant is doing you a favor to an extent allowing you to start clean slate as far as his unit at least and that unilateral clause in the old lease.

Post: Rental Applicant Refuses to Provide Credit Bureau with his SS#

Account ClosedPosted
  • Homeowner
  • Signal Hill, CA
  • Posts 521
  • Votes 70

totally agree Steve, if applicant doesn't wanna complete application that's a huge flag right there that they won't be cooperative.

thx Mike, shukria Pari baba, will look into smartmoves! 

Jeremy, i simply don't want the liability of potentially being personally accused of 'id theft' and the likes of 'negligent enablement' thereof in today's highly litigious America where it seems like 50% americans are prescribed some sort of psychiatrics drugs and the other half on recreational ones; and the average civilian being practically a professional 'crisis actor'. 

frankly, and im not even kidding, 10-20 years ago it used to be that young adults wanted to be rock stars. now its practically like every one wants to be 'lawyer'? hardly a day doesn't go by where i have a college grad who majored in art or english lit or biotech but what does he or she want to be? a lawyer! must be something in the air waves.

as for PMingthere is a legal counsel contact for every one of my clients as they are organizations; as for me i dont 'call my lawyer' i am an individual sole proprietor and so far, always pro se. 

litigious america, gotta luv it, eh?

Post: Potential Tenant Refusing Application Process

Account ClosedPosted
  • Homeowner
  • Signal Hill, CA
  • Posts 521
  • Votes 70

wow i just noticed this thread after submitting a somewhat similar applicant drama.

anyways, my first reaction is... is 'his' company really 'ALLSTATE'?!?

2nd is, why would he want to rent (a residence?) using alternate (commercial?) credentials?

everyone knows a corporation is an artificial entity which amidst financial stress can instantly e dissolved without life-impacting consequences... whereas a natural person usually is only dissolved via... DEATH =/

Post: Rental Applicant Refuses to Provide Credit Bureau with his SS#

Account ClosedPosted
  • Homeowner
  • Signal Hill, CA
  • Posts 521
  • Votes 70

seriously now.. i thought i was being mutually discreet by NOT requiring the SS# directly on the application, nor even charging an application fee, for my own properties (as opposed to properties i PM for).

but one of today's prospective tenants who seems to meet income requirements (on paystub with SS# blotted out) has refused to provide SS#,,, to the credit bureau itself!

the way it works is they sign up with a major credit bureau of their choice and provide the credit bureau with my email so the credit bureau can forward me their credit report. that way i'm not personally liable at all for any possible allegations of misuse of their SS#. its the ONLY way i will accept a credit report for persons applying for my own rentals. 

how can someone not want to provide their SS# to the credit bureau?! i mean, granted the credit bureau isn't technically a 'government agency' but then again neither is the employer that obviously has their SS# on their paycheck which applicant blotted out.

and besides, every sane person knows credit bureaus already have most everyone's SS# on file.. don't they??

ps- this is the first week/end i'm using the credit bureaus' 'consumer-initiated credit report share' feature and have yet to see how it goes.

Post: Federal Fair Housing Act (FHA), its Amendments & Exemptions?

Account ClosedPosted
  • Homeowner
  • Signal Hill, CA
  • Posts 521
  • Votes 70

is it true that:

- Private property owners who do not own or have any interest in more than three single-family houses at one time are exempt from the federal Fair Housing Act of 1968?

- Multifamily properties with fewer than four units, as long as one of the units is occupied by the owner as his or her residence, are exempt from the federal Fair Housing Act of 1968?

and if so, how does local and state play into legality; does state or federal take precedence?

no, i'm not interested in discriminating against folks based on race/color/nationality/national origin/religion/sex/disability; whether under my own primary residence's roof nor any clients' but actually bewildered that such a detailed act would point out 'race' 'color' and 'nationality' or 'national origin' but not touch upon ethnicity; same for 'sex' but not even touch upon gender identity or orientation.. at least at the federal level.

and likewise, what about language? would it be okay to eliminate a prospective tenant because they haven't yet learned to communicate in English and the landlord doesn't have a translator available?

Post: How old were you when you got started in real estate investing and how did you get started?

Account ClosedPosted
  • Homeowner
  • Signal Hill, CA
  • Posts 521
  • Votes 70

planted first trees and running bamboo in parents' backyard at around 12 years old.

looking back, in the bigger picture, trees were best early investment ever; wheras the bamboo, kinda bad!